USD 5.46 billion
Global Small Satellite Market Size, Share, Growth Analysis, By End-Use(Commercial, Government & Defense), By Application(Communication, Earth Observation) - Industry Forecast 2023-2030
Report ID:
SQMIG20A2173 |
Region:
Global |
Published Date: March, 2024
Pages:
202
|
Tables:
65 |
Figures:
75
Global Small Satellite Market Insights
Global Small Satellite Market size was valued at USD 5.46 billion in 2022 and is poised to grow from USD 6.09 billion in 2023 to USD 14.54 billion by 2031, growing at a CAGR of 11.50% during the forecast period (2024-2031).
The purpose of the small satellite market is to provide cost-effective and accessible satellite solutions for a wide range of applications. These satellites offer several advantages over traditional large satellites, such as reduced development time, lower launch costs, and increased flexibility in mission planning. The market aims to address the growing demand for satellite-based services and applications across industries while overcoming the limitations associated with larger and more expensive satellite systems. The global small satellite market serves the purpose of providing cost-effective and accessible satellite solutions for various applications. Key driving factors include cost efficiency and technological advancements. Restraining factors include limited payload capacity and regulatory challenges. The market faces challenges related to launch opportunities and space debris mitigation. It offers opportunities through emerging applications and the commercialization of space, attracting new market entrants and fostering innovation.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Commercial
Fastest Growth
Commercial
Growth Rate
11.50% CAGR
Global Small Satellite Market 2022-2030 ($ Bn)
Country Share for North America Region- 2022 (%)
Global Small Satellite Market Size By End use 2022-2030 ($ Bn)
Global Small Satellite Market Size By End-use, 2022-2030 (%)
To get more reports on the above market click here to Buy The Report
Global Small Satellite Market Segmental Analysis
The global small satellite market is segmented on the basis of end-use, application, and region. Based on end-use, the market is segmented into commercial, government & defense, and dual-use. In terms of application, the market is segmented into communication, earth observation, education, technology, and others. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Small Satellite Market Analysis by End-Use
In 2022, The commercial segment holds the largest market share in the global small satellite market. The commercial category is expected to dominate the market due to the increasing number of internet services and mobile users. The demand for small satellites for commercial purposes, such as navigation, telecommunication, weather forecasting, and other applications, is driving the growth of this segment.
The military segment is also experiencing significant expansion in the small satellite market. Small satellites are increasingly being utilized for surveillance operations, leading to the growth of the military segment. These satellites play a crucial role in enemy surveillance and intelligence gathering. The government segment is poised to witness substantial growth as government space organizations become more actively involved in small satellite development initiatives. Governments across the globe are recognizing the advantages and capabilities of small satellites, leading to increased investment and participation in this segment.
Small Satellite Market Analysis by Application
In 2022, the communication segment is projected to exhibit the highest compound annual growth rate. This growth can be attributed to the increased adoption of communication antennas in both government and commercial sectors. Satellites play a crucial role in providing various communication services, including data communications, broadcasting, and telecommunications. They enable programs for laptops, mobile phones, and personal digital assistants, expanding the reach of communication services.
The earth observation segment is also expected to witness significant growth. Small satellites are used for monitoring climate patterns, environmental changes, and water resources. This application has gained prominence in industries such as agriculture, disaster management, and environmental research.
Global Small Satellite Market Size By End use, 2022(%), 2023 (%)
To get detailed analysis on other segments, Request For Free Sample Report
Global Small Satellite Market Regional Insights
North America dominated the global small satellite market in 2022. This is owing to the strong presence of major players in this region, coupled with the technological advancements, and robust infrastructure to support satellite manufacturing and operations. The United States, in particular, has been at the forefront of small satellite development and deployment. The presence of leading aerospace and defense companies, along with significant government support, has contributed to the region's dominance. North America benefits from a mature commercial space industry, advanced research and development capabilities, and a favorable regulatory environment, making it a key hub for small satellite activities.
Asia Pacific is expected to be the fastest-growing region in the global small satellite market. The region's growth is driven by the increasing investments in space programs, rising demand for satellite-based applications, and the emergence of new players in the market. Countries such as China and India have been actively investing in space exploration and satellite technology, fueling the growth of the small satellite market in the region. The increasing adoption of small satellites for communication, Earth observation, and navigation purposes is contributing to the rapid growth of the Asia Pacific market.
Global Small Satellite Market Size By Geography, 2022-2030, 2024-2031
- Largest
- Fastest
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Global Small Satellite Market Dynamics
Small Satellite Market Drivers
Cost-Effectiveness
- The cost-effectiveness of small satellites compared to larger counterparts is a major driver for market growth. Small satellites require less development time and have lower launch costs, making them more accessible to a broader range of organizations and industries.
Technological Advancements
- Rapid advancements in miniaturization, electronics, and launch capabilities have increased the performance and capabilities of small satellites. These advancements have expanded the potential applications and benefits of small satellites, driving their adoption across various sectors.
Small Satellite Market Restraints
Limited Payload Capacity
- Small satellites have inherent limitations on payload capacity due to their size and weight constraints. This limitation can restrict the functionality and capabilities of certain missions that require larger and more complex payloads, posing a challenge in fulfilling specific customer requirements.
Regulatory Challenges
- Regulatory challenges, including obtaining necessary licenses, frequency spectrum allocation, and adherence to space debris mitigation guidelines, can pose restraints on the small satellite market. Compliance with these regulations can add complexity, time, and costs to satellite development and operations.
Request Free Customization of this report to help us to meet your business objectives.
Global Small Satellite Market Competitive Landscape
The global small satellite market is highly competitive in nature, with several players vying for high market share. The competitive landscape is characterized by the presence of established aerospace companies, startups specializing in small satellite technologies, and various service providers. These players compete on factors such as technological capabilities, product offerings, strategic partnerships, and customer relationships. Here is an elaboration on the competitive landscape of the global small satellite market. The global small satellite market is dynamic and evolving. Companies strive to differentiate themselves through technological advancements, cost-effective solutions, reliable operations, and a focus on customer needs. As the market continues to grow, competition is expected to intensify, leading to further innovation and advancements in small satellite technologies.
Top Player’s Company Profiles in Small Satellite Market
- Airbus SE (Netherlands)
- Boeing Co. (US)
- Lockheed Martin Corporation (US)
- Northrop Grumman Corporation (US)
- Planet Labs Inc. (US)
- Spire Global Inc. (US)
- Blue Canyon Technologies (US)
- Surrey Satellite Technology Ltd. (UK)
- Thales Alenia Space (France)
- Ball Corporation (US)
- Sierra Nevada Corporation (US)
- Maxar Technologies Inc. (Canada)
- GomSpace Group AB (Denmark)
- OneWeb Satellites (US)
- NanoAvionics (US)
- Kepler Communications (Canada)
- OHB SE (Germany)
- Axelspace Corporation (Japan)
- Tyvak Nano-Satellite Systems (US)
- ICEYE (Finland)
Small Satellite Market Recent Developments
- In May 2022, SpaceX launched a batch of Starlink satellites, continuing the deployment of its global broadband internet constellation.
- In April 2022, OneWeb launched a batch of small satellites, expanding its constellation to provide global internet connectivity.
- In March 2022, Rocket Lab announced plans to develop a medium-lift launch vehicle named Neutron, capable of delivering larger payloads to orbit.
- In February 2022, Axelspace Corporation successfully launched and deployed three GRUS-1B satellites, enhancing its Earth observation capabilities.
- In January 2022, GomSpace Group AB signed a contract with the European Space Agency (ESA) to develop and deliver nanosatellite platforms for future missions.
Global Small Satellite Key Market Trends
- Increasing Demand for Earth Observation: The demand for small satellites in the Earth observation segment is witnessing significant growth. Small satellites are increasingly used for applications such as environmental monitoring, disaster response, agriculture, and urban planning, driven by the need for high-resolution imagery and real-time data.
- Rise of Smallsat Constellations: The trend of deploying small satellite constellations, consisting of a network of interconnected satellites, has gained traction. Companies like SpaceX and One Web are deploying large constellations to provide global broadband connectivity, while others are utilizing constellations for remote sensing and global coverage applications.
Global Small Satellite Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global small satellite market analysis, the market is driven by technological advancements, increasing demand for Earth observation data, communication applications, and government initiatives to promote space exploration. The market size in terms of revenue is projected to reach billions of dollars by the end of the forecast period. Factors such as the decreasing cost of satellite components, miniaturization of electronics, and advancements in launch technologies have contributed to the market's growth. The global small satellite market is witnessing significant growth, driven by technological advancements, increasing demand for Earth observation data, and expanding commercial applications. However, regulatory challenges and payload limitations remain as key restraints. Understanding the market dynamics, identifying regional opportunities, and leveraging technological advancements are crucial for companies to gain a competitive edge in this rapidly evolving market.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 5.46 billion |
| Market size value in 2031 | USD 14.54 billion |
| Growth Rate | 11.50% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Small Satellite Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Small Satellite Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Small Satellite Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Small Satellite Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Small Satellite Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Small Satellite Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Small Satellite Market Report Snapshots
Want to customize this report?
Our industry expert will work with you to provide you with customized data in a short amount of time.
REQUEST FREE CUSTOMIZATION
USA (+1) 617-230-0741
